Chinese CRC, HDG export prices fall amid heightened trade tensions

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell in the week to Tuesday May 14 because of thin trading activity amid escalating trade tensions between China and the United States.

Most customers have been purchasing cheaper flat steel from suppliers in other countries but Chinese materials are expected to become more competitive in the near future, a trader in Shanghai said. Cold-rolled coil Fastmarkets MB’s weekly export price assessment for Chinese SPCC 1mm CRC was $555-565 per tonne fob China on Tuesday, down $5-10 per tonne from a week earlier. A shipment of CRC was booked by a buyer in South America at $560-565 per tonne fob China during the week. There is limited buying interest in the Middle East and parts of Southeast Asia during the Islamic holy month of Ramadan, another Shanghai-based trader said. Muslims observe Ramadan,...

Published

Lee Ken Kiat

May 14, 2019

12:40 GMT

Singapore